Summary
COLLEGE PARK (AP) - Mall developer The Mills Corp. said last month it has signed a deal with a new investor to pump up to $500 million into the financially troubled Meadowlands Xanadu shopping and entertainment center in northern New Jersey. Colony Capital Acquisitions LLC will join Mills and Kan Am USA Management XXII Ltd. in developing the center just outside New York City, which was originally slated to cost $1.3 billion but has ballooned to $2 billion.
Under the deal, Colony will arrange for construction loan financing and invest up to $500 million in the project. Mills, a Chevy Chase-based real estate investment trust, already has a $485 million stake in Meadowlands Xanadu, and Kan Am has invested $342 million.See the full content of this document
Extract
Mills Corp. Signs Investment Deal
When the deal closes on Sept. 21, Mills will iss...
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